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Supplementing the Preliminary Prospectus |
Filed Pursuant to Rule 433 Registration No. 333-201445
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Ecolab Inc.
€575,000,000 2.625% Notes due 2025
Pricing Term Sheet
July 1, 2015
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Issuer: |
Ecolab Inc. |
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Principal Amount: |
€575,000,000 |
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Type of Offering: |
SEC registered (No. 333-201445) |
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Trade Date: |
July 1, 2015 |
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Settlement Date: |
July 8, 2015 (T+5) |
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Anticipated Ratings:* |
Baa1 (stable outlook) by Moody’s Investors Service, Inc. |
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Listing: |
Ecolab Inc. intends to apply to list the notes on The New York Stock Exchange |
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Maturity Date: |
July 8, 2025 |
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Coupon: |
2.625% |
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Interest Payment Dates: |
Annually on July 8, commencing July 8, 2016 |
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Price to Public: |
99.705% |
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Spread to Benchmark Bund: |
+182.6 bps |
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Benchmark Bund: |
DBR 0.5% due February 15, 2025 |
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Benchmark Bund Price and Yield: |
96.93; 0.833% |
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Spread to Mid Swaps: |
+145 bps |
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Mid Swaps Yield: |
1.209% |
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Yield to Maturity: |
2.659% |
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Day Count Convention: |
ACTUAL/ACTUAL (ICMA) |
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Stabilization: |
Stabilization/FCA |
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Make-Whole Call: |
DBR + 30 bps |
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CUSIP/Common Code/ISIN: |
278865 AS9/125543375/XS1255433754 |
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Joint Book-Running Managers: |
Merrill Lynch International |
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Passive Book-Runner |
SMBC Nikko Capital Markets Limited |
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Co-Managers: |
Mizuho International plc |
* Note: A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time.
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering.
You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Merrill Lynch International toll-free at (800) 294-1322 or Credit Suisse Securities (Europe) Limited at (800) 221-1037.